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Revenue vs. Profit: The Math That Will Save Your Business - 116
"I made more money, so I'm going to spend more money." This is the mindset that kills businesses.
In this episode of Beyond The Pump, we tackle the single most important document in your business: The Profit & Loss Statement (P&L). Most coaches ignore this report because they are afraid of the math, but ignorance is expensive. We break down exactly how to read a P&L, why you don't need a bookkeeper to start, and the specific profit margins you need to hit to actually take home a paycheck.
We also give you the "Golden Ratios" for a service-based business, including exactly what percentage of your revenue should go to Payroll, Marketing, and Operations.
Listen now to stop guessing and start managing your money like a CEO.
Follow us! https://www.instagram.com/officialhcsa/ Follow us for more:
YouTube: https://www.youtube.com/@OfficialBeyondThePump
Instagram: @officialbeyondthepump
Facebook: https://www.facebook.com/share/g/B2uM6Fv5NWhdKbhq/
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By Andrew Garritson, Stephen Kopshaw"I made more money, so I'm going to spend more money." This is the mindset that kills businesses.
In this episode of Beyond The Pump, we tackle the single most important document in your business: The Profit & Loss Statement (P&L). Most coaches ignore this report because they are afraid of the math, but ignorance is expensive. We break down exactly how to read a P&L, why you don't need a bookkeeper to start, and the specific profit margins you need to hit to actually take home a paycheck.
We also give you the "Golden Ratios" for a service-based business, including exactly what percentage of your revenue should go to Payroll, Marketing, and Operations.
Listen now to stop guessing and start managing your money like a CEO.
Follow us! https://www.instagram.com/officialhcsa/ Follow us for more:
YouTube: https://www.youtube.com/@OfficialBeyondThePump
Instagram: @officialbeyondthepump
Facebook: https://www.facebook.com/share/g/B2uM6Fv5NWhdKbhq/